S. Korea tightens limit on forex forward positions






SEOUL: South Korea announced Tuesday it was lowering the ceiling on foreign exchange forward positions by foreign and local banks, to ease currency volatility after a sharp appreciation in the Korean won.

The finance ministry said local branches of foreign banks will have to limit forward deals to 150 per cent of their equity capital, down from the current 200 per cent.

The ceiling for domestic banks will be lowered to 30 per cent from 40 per cent.

The new restrictions will come into force from December 1, but with a one-month grace period, the ministry said in a joint statement with the central bank and financial regulators.

"Korea's relatively sound economic fundamentals and ample global liquidity are raising the chances that the volatility of cross-border capital movements will increase," the statement said.

"Korea plans to preemptively take action, if needed, in a bid to prevent volatility of foreign capital flows from hitting the financial market," it added.

The Korean won has gained about nine per cent against the dollar since May -- a worrying trend for the country's export-driven economy which is already struggling with the impact of the downturn in its US and European markets.

Restrictions on foreign exchange forward positions were last tightened in July 2011 as capital inflows intensified.

Seoul fears that "hot money" coming into the country could exit just as swiftly -- as it did during the 1997-1998 East Asian financial crisis, which forced the country to seek IMF aid, and the 2008 global crisis.

- AFP/ck



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DOE, NASA testing fission reactor for spaceflight




Why don't we have warp drive yet? Well, because, according to Star Trek lore, inventor Zefram Cochrane hasn't been born yet.


Baby Zefram is due in about 20 years, but in the meantime NASA and the Department of Energy are working on something somewhat tantalizing if you're planning a deep-space probe.


Researchers including engineers from Los Alamos National Laboratory have demonstrated a nuclear reactor that could power spaceflight. It's nowhere near as powerful as NASA's conceptual antimatter engine--the Demonstration Using Flattop Fissions (DUFF) experiment produces just 24 watts of electricity.


The researchers used a heat pipe to cool a small nuclear reactor and power a Stirling engine, according to the lab, yielding "a simple, reliable space power system." It was the first space nuclear reactor experiment in the U.S. since 1965.




A proposed craft using the system would be powered by a 50-pound hunk of enriched uranium that sits inside a 12-inch reactor core, as the video below illustrates. Having more power aboard a probe could mean more instruments or faster data transmission.


Heat pipes -- a cooling technology used in many laptops -- distribute the fission heat to eight Stirling engines that would produce about 500 watts of power. In contrast, the Cassini-Huygens probe is powered by 72 pounds of plutonium-238, which generated about 880 watts at its launch in 1997.


The researchers believe the reactor could be adapted to applications such as power plants on the surface of Mars, or more elaborate spacecraft.


"The heat pipe and Stirling engine used in this test are meant to represent one module that could be used in a space system," Marc Gibson of NASA Glenn Research Center said a Los Alamos statement. "A flight system might use several modules to produce approximately one kilowatt of electricity."


Dilithium crystals it ain't, but let's be optimistic.




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Space Pictures This Week: Space "Horse," Mars Rover, More





































































































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Rx OD Risks: Grapefruit-Meds Warning Expanded


Nov 26, 2012 5:48pm







gty grapefruit juice medication ll 121126 wblog Grapefruit, Medicine Interaction Warning Expanded

Image credit: Johner/Getty Images


ABC News’ Ben Maas reports:


It has long been known that grapefruit juice can pose dangerous — and even deadly — risks when taken along with certain medications. Now, experts warn the list of medications that can result in these interactions is longer than many may have believed.


Check below to see whether your medication appears on the list.


In a new report released Monday in the Canadian Medical Association Journal, researchers at the University of Western Ontario said that while 17 drugs were identified in 2008 as having the potential to cause serious problems when taken with grapefruit, this number has now grown to 43.


“The frequency of these reactions may be small, but the risks are not worth it, especially for drugs which could cause sudden death,” said lead study author David Bailey, a professor of pharmacology and one of the first to report the interactions between grapefruit juice and certain medications 20 years ago. “Physicians need to know that this affects a number of new drugs and apply this information to their practice and patients.”


So how does a common breakfast fruit cause these problems? Grapefruits contain chemicals called furanocoumarins that interfere with how your body breaks down drugs before they enter the bloodstream. By preventing this normal breakdown of a drug, these chemicals in grapefruit can effectively cause a drug overdose and more severe side-effects.


Among the side effects sometimes seen with grapefruit-induced overdoses are heart rhythm problems, kidney failure, muscle breakdown, difficulty with breathing and blood clots. Atorvastatin — commonly known by the brand name Lipitor and taken by millions of Americans — is one of the drugs that have been linked to serious cases of drug toxicity when combined with grapefruit products. Other common heart medications — including verapamil and amiodarone — have also led to serious interactions when consumed with grapefruit or grapefruit juice.


While there have been many reported cases of serious side effects attributable to this problem, the total number of Americans who have been affected is not known.


As little as one grapefruit or one 8-ounce glass of grapefruit juice can cause an effect that may last more than 24 hours.  Other fruits including Seville oranges, limes, and pomelos can have the same effect, although sweet orange varieties do not produce this interaction.



“People know that drugs react with drugs, but fewer are aware of drug-food interactions,” said Professor Paul Doering of the University of Florida Pharmacy Department. “Health professionals need to learn as much as they can about this.  Undetected there are very serious adverse effects.”


For consumers, the best advice may be to ask a doctor or pharmacist when they are prescribed a new drug whether there are foods or other medicines that they should avoid.



A-C
Alfentanil (oral)
Amiodarone
Apixaban
Atorvastatin
Buspirone
Clopidogrel
Crizotinib
Cyclosporine


D-F
Darifenacin
Dasatinib
Dextromethorphan
Domperidone
Dronedarone
Eplerenone
Erlotinib
Erythromycin
Everolimus
Felodipine
Fentanyl (oral)
Fesoterodine


H-P
Halofantrine
Ketamine (oral)
Latatinib
Lovastatin
Lurasidone
Maraviroc
Nifedipine
Nilotinib
Oxycodone


P-Z
Pazopanib
Pimozide
Primaquine
Quinine
Quetiapine
Quinidine
Rilpivirine
Rivaroxaban
Silodosin
Simvastatin
Sirolimus
Solifenacin
Sunitinib
Tacrolimus
Tamsulosin
Ticagrelor
Triazolam
Vandetanib
Venurafenib


Verapamil
Ziprasidone



SHOWS: World News







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New vaccine may give lifelong protection from flu



































Flu season has come early this year in parts of the northern hemisphere, and many people are scrambling to get their annual vaccination. That ritual may someday be history.












In a first for any infectious disease, a vaccine against flu has been made out of messenger RNA (mRNA) – the genetic material that controls the production of proteins. Unlike its predecessors, the new vaccine may work for life, and it may be possible to manufacture it quickly enough to stop a pandemic.












We become immune to a flu strain when our immune system learns to recognise key proteins, called HA and NA, on the surface of the flu virus. This can happen either because we have caught and fought off that strain of flu, or because we received one of the standard vaccines, most of which contain killed flu virus.












Flu constantly evolves, however, so those proteins change and your immunity to one year's strain does not extend to following year's. For this reason, a new vaccine has to be produced each year. Most flu vaccines are grown in chicken eggs or cell culture, a process that takes at least six months.











This time lag means that the World Health Organization has to predict months in advance which viruses are most likely to be circulating the following winter. Drug companies then make a new vaccine based on their recommendations. Of course, these recommendations can be wrong, or worse, when a completely new flu virus causes a pandemic, its first waves can be over before any vaccine is ready.












Freeze-dried vaccine













Now there could be a solution. The mRNA that controls the production of HA and NA in a flu virus can be mass-produced in a few weeks, says Lothar Stitz of the Friedrich-Loeffler Institute in Riems Island, Germany. This mRNA can be turned into a freeze-dried powder that does not need refrigeration, unlike most vaccines, which have to be kept cool.












An injection of mRNA is picked up by immune cells, which translate it into protein. These proteins are then recognised by the body as foreign, generating an immune response. The immune system will then recognise the proteins if it encounters the virus subsequently, allowing it to fight off that strain of flu.












Similar vaccines have been made of DNA that codes for flu proteins. But DNA vaccines seem unlikely ever to be approved, because of worries that they might be incorporated into human DNA, disrupting gene regulation.











Safety advantage













That is not a risk with mRNA, which cannot become part of the genome. For this reason, "RNA probably has advantages over DNA as concerns safety," says Bjarne Bogen of the University of Oslo, Norway, who is working on a DNA vaccine for flu.












Trial RNA vaccines have failed, however, after being destroyed rapidly in the blood. But CureVac, a company in Tübingen, Germany, has found that a protein called protamine, binds to mRNA and protects it. It has an mRNA vaccine against prostate and lung cancer tumours in human trials.












"Amazingly, mRNA vaccines have never been really tested against infectious diseases," says Stitz. His team used CureVac's process to make durable mRNA vaccines for common human flu strains, as well as H5N1 bird flu. In mice, ferrets and pigs, the vaccines rapidly elicited protective levels of antibodies.











Two-pronged immunity













They also induced cell-mediated immunity, which is an immune response that does not involve antibodies but activates blood cells such as killer T-cells to destroy specific pathogens. Vaccines made only of the proteins do not elicit this type of response. Having both types of immunity clears infection faster, and can also protect against flu for longer, as cell-mediated reactions still recognise flu viruses after they have evolved enough to evade antibodies.











A true universal vaccine for fluMovie Camera, however, would induce immunity to proteins that are the same in all flu viruses, but which flu normally hides from the immune system. Stitz's team made an mRNA vaccine to one such protein from an ordinary seasonal flu. The vaccine not only protected animals from that flu strain, but also from H5N1 bird flu.













Vaccines that work against all flu strains could eventually be given once in childhood, like vaccines for other diseases. Meanwhile, Stitz is also working on an mRNA vaccine for rabies. "We think that mRNA would provide an excellent platform against viral, bacterial and fungal diseases," he says.












Journal reference: Nature Biotechnology, DOI: 10.1038/nbt.2436


















































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Oil down in Asian trade






SINGAPORE: Oil prices were down in Asian trade Monday as markets awaited the outcome of a eurozone finance ministers' meeting aimed at unlocking the next tranche of aid to debt-strapped Greece.

Investors were also concerned about looming tax increases and huge spending cuts in the United States, with analysts fearing they could lead to another slowdown in the world's biggest economy.

New York's main contract, West Texas Intermediate (WTI) for January delivery, was down 31 cents to $87.97 a barrel in the morning, and Brent North Sea crude also for January eased 23 cents to $111.15.

"Having just enjoyed an unexpectedly strong week, global markets remain on a knife edge with uncertainty over Greece and the US taking centre stage again," said Jason Hughes, head of premium client management at IG Markets Singapore.

Eurozone finance ministers were due to meet in Brussels on Monday for the third time in two weeks as part of efforts to decide on the next slice of aid to Greece, which is in danger of running out of money.

Greece, at the centre of a eurozone debt crisis, has been waiting since June for a loan installment of 31.2 billion euros ($40 billion), part of a 130-billion-euro financial assistance package initially granted early this year.

By the end of next month, Athens is also due to receive two more aid payments, worth 5.0 and 8.3 billion euros, on condition it implements a series of unpopular austerity measures.

Talks about the "fiscal cliff" in the United States -- a combination of tax hikes and spending cuts set to take effect on January 1 barring a compromise among US lawmakers -- were also keeping investors on the edge.

"Traders are likely to be bogged down by fiscal cliff talks again this week. Very little has happened in the past 10 days, partly due to the Thanksgiving break, but time is slipping away," Hughes said.

Another slowdown in the US economy will affect crude demand as the United States is the world's biggest oil consuming nation.

- AFP/ck



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Facebook uses posters to push employees to switch to Android





Poster in Facebook headquarters encouraging employees to switch from iPhone to Android handsets.



(Credit:
Josh Constine/TechCrunch)



Borrowing a page from war posters of yesteryear, Facebook is using posters of its own to encourage employees to dump their iPhones for
Android devices.


After it was reported in August that Facebook employees were being "nudged, cajoled, and even ordered to give up their iPhones for Android devices," the social networking giant appears to be stepping up its campaign. Posters encouraging employees to "switch today" have begun appearing on the walls at the company's Mountain View, Calif., headquarters, according to a TechCrunch report.


While Facebook used to give its employees primarily iPhones, the aim of the posters is apparently to improve functionality for the app, which has been criticized as slow, thin on useful features, and a drain on resources. The apparent aim of this so-called dog-fooding, in which employees are encouraged to use their own products, is improve the Facebook experience on the smartphone platform with the largest marketshare; recent data shows Android controlling 68.1 percent of the smartphone market, while Apple's iOS nabbed only 16.9 percent.


One such poster gracing Facebook's walls included a large graph displaying IDC data that predicted Android would control about twice of the smartphone market as iPhone in 2016. Both posters encouraged employees to contact Facebook's helpdesk immediately to arrange to have their device switched to Android.




CNET has contacted Facebook for comment and will update this report when we learn more.


When asked about the posters by TechCrunch's Josh Constine, a Facebook spokesperson said: "We don't encourage one device over another. We let employees choose."


News of the posters emerged as Facebook released new versions of its app for iOS and Android. However, while Facebook trumpeted that the iOS app was "rebuilt from the ground up," the Android app update was relatively minor.

Read More..

Distant Dwarf Planet Secrets Revealed


Orbiting at the frozen edges of our solar system, the mysterious dwarf planet Makemake is finally coming out of the shadows as astronomers get their best view yet of Pluto's little sibling.

Discovered in 2005, Makemake—pronounced MAH-keh MAH-keh after a Polynesian creation god—is one of five Pluto-like objects that prompted a redefining of the term "planet" and the creation of a new group of dwarf planets in 2006. (Related: "Pluto Not a Planet, Astronomers Rule.")

Just like the slightly larger Pluto, this icy world circles our sun beyond Neptune. Researchers expected Makemake to also have a global atmosphere—but new evidence reveals that isn't the case.

Staring at a Star

An international team of astronomers was able for the first time to probe Makemake's physical characteristics using the European Southern Observatory's three most powerful telescopes in Chile. The researchers observed the change in light given off by a distant star as the dwarf planet passed in front of it. (Learn how scientists found Makemake.)

"These events are extremely difficult to predict and observe, but they are the only means of obtaining accurate knowledge of important properties of dwarf planets," said Jose Luis Ortiz, lead author of this new study and an astronomer at the Instituto de Astrofisica de Andalucia, in Spain.

It's like trying to study a coin from a distance of 30 miles (48 kilometers) or more, Ortiz added.

Ortiz and his team knew Makemake didn't have an atmosphere when light from the background star abruptly dimmed and brightened as the chilly world drifted across its face.

"The light went off very abruptly from all the sites we observed the event so this means this world cannot have a substantial and global atmosphere like that of its sibling Pluto," Ortiz said.

If Makemake had an atmosphere, light from the star would gradually decrease and increase as the dwarf planet passed in front.

Coming Into Focus

The team's new observations add much more detail to our view of Makemake—not only limiting the possibility of an atmosphere but also determining the planet's size and surface more accurately.

"We think Makemake is a sphere flattened slightly at both poles and mostly covered with very white ices—mainly of methane," said Ortiz.

"But there are also indications for some organic material at least at some places; this material is usually very red and we think in a small percentage of the surface, the terrain is quite dark," he added.

Why Makemake lacks a global atmosphere remains a big mystery, but Ortiz does have a theory. Pluto is covered in nitrogen ice. When the sun heats this volatile material, it turns straight into a gas, creating Pluto's atmosphere.

Makemake lacks nitrogen ice on its surface, so there is nothing for the sun to heat into a gas to provide an atmosphere.

The dwarf planet has less mass, and a weaker gravitational field, than Pluto, said Ortiz. This means that over eons of time, Makemake may not have been able to hang on to its nitrogen.

Methane ice will also transform into a gas when heated. But since the dwarf planet is nearly at its furthest distance from the sun, Ortiz believes that Makemake's surface methane is still frozen. (Learn about orbital planes.)

And even if the methane were to transform into a gas, any resulting atmosphere would cover, at most, only ten percent of the planet, said Ortiz.

The new results are detailed today in the journal Nature.


Read More..

Fire Kills 112 Workers Making Clothes for US Brands













The 100-plus workers who died in a fire late Saturday at a high-rise garment factory in Bangladesh were working overtime making clothes for major American retailers, including Wal-Mart, according to workers' rights groups.


Officials in Bangladesh said the flames at the Tazreen Fashions factory outside Dhaka spread rapidly on the ground floor, trapping those on the higher floors of the nine-story building. There were no exterior fire escapes, according to officials, and many died after jumping from upper floors to escape the flames.


As firemen continued to remove bodies Sunday, officials said at least 112 people had died but that the number of fatalities could go higher.


The Tazreen fire is the latest in a series of deadly blazes at garment factories in Bangladesh, where more than 700 workers, many making clothes for U.S. consumers, have died in factory fires in the past five years. As previously reported by ABC News, Bangladesh has some of the cheapest labor in the world and some of the most deplorable working conditions.


READ the original ABC News report.








More Than 100 Dead in Bangladesh Garment Factory Fire Watch Video











Worker Deaths at Factory for Hilfiger Clothes Watch Video





"The industry and parent brands in the U.S. have been warned again and again about the extreme danger to workers in Bangladesh and they have not taken action," said Scott Nova, executive director of the Worker Rights Consortium, an American group working to improve conditions at factories abroad that make clothes for U.S. companies. Nova said the fire was the most deadly in the history of the Bangladesh apparel industry, and "one of the worst in any country."


WATCH the 'Nightline' report on deadly factories.


Workers' activists went into the burned-out remains today to document which major retailers were using the Tazreen factory.


They say they found labels for Faded Glory, a Wal-Mart private label, along with labels they said traced back to Sears and a clothing company owned by music impresario Sean "Diddy" Combs.


"There's no question that Wal-Mart and the other customers at this factory bear some blame for what happened in this factory," Nova said.


Nova also said that Wal-Mart "knew exactly what's going on at these facilities. They have staff on site in Bangladesh."


Wal-Mart actually warned of dangerous conditions at the Tazreen factory last year, in a letter posted online by the factory owner.


Wal-Mart told ABC News that the company has not yet been able to confirm that it was still making clothes at the factory.


In a statement, Wal-Mart told ABC News, "Our thoughts are with the families of the victims of this tragedy. ... [F]ire safety is a critically important area of Wal-Mart's factory audit program and we have been working across the apparel industry to improve fire safety education and training in Bangladesh.


"As part of this effort, we partnered with several independent organizations to develop and roll out fire safety training tools for factory management and workers. Continued engagement is critical to ensure that reliable, proactive measures are in place to reduce the chance of factory fires. "


Spokespeople for Combs and Sears did not immediately respond to requests for comment.



Read More..

Papa pipefish's pregnancy good for young's immunity









































MALE pipefish pregnancy may suit the females, but it's a real boon for their offspring.












In human fetuses, antibodies from the mother's egg and others that pass across the placenta help build its developing immune system. Sperm are too small to carry antibodies, so males aren't thought to contribute.












Not so in pipefish, where the male carries the pregnancy. To see if the immune priming might come from both the mother's egg and via the father's placenta-like structure, Olivia Roth at the Helmholtz Centre for Ocean Research Kiel in Germany and colleagues exposed lab-grown male and female broad-nosed pipefish to dead bacteria. The fish were then left to mate and the resulting offspring were later also exposed.












The young had the strongest immune response if both parents had been exposed to the bacteria, suggesting both provided antibodies (The American Naturalist, doi.org/jrq).












Pipefish may not be the only fathers that help build their offspring's immune system. Pigeons of both sexes have been shown to "lactate" antibody-rich "milk" in their crops for their chicks.


















































If you would like to reuse any content from New Scientist, either in print or online, please contact the syndication department first for permission. New Scientist does not own rights to photos, but there are a variety of licensing options available for use of articles and graphics we own the copyright to.




































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